Month: February 2013

FINRA Offers Guidance on FINRA Suitability Rule 2111

In Regulatory Notice 12-55, FINRA addressed a requirement of FINRA Rule 2111 (Suitability), that a broker-dealer or Registered Representative “have a reasonable basis to believe that a recommended transaction, or  involving a security or investment strategy involving a security or securities, is suitable for the customer” based upon the customer investment profile.  Since the implementation […]

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Deferred Variable Annuities and Client Suitability

Deferred variable annuities are investment products which have features with both insurance and securities (mutual fund) characteristics.  They may be purchased in non-qualified (non-retirement) type accounts as well as in tax-qualified, employer-sponsored retirement or benefit plans.    FINRA Conduct Rule 2330 requires that brokers selling these products adhere to FINRA’s new Suitability Rule 2111 and […]

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